Multinational corporations in the healthcare sector are increasingly integrating into the Chinese market through in-depth collaboration and localization in order to explore the huge market potential of the world's second-largest economy, according to executives at these firms.
United Kingdom-based consumer healthcare company Haleon inked a collaborative agreement with Peking University on Dec 16 to launch a joint laboratory focusing on pain management science.
Hu Henglong, vice-president of Haleon China, said establishing the joint lab, its first attempt in the Chinese market, is a major breakthrough in current innovation patterns for the company.
"We expect to actively conduct scientific research on pain for groups in China, explore new prospects of industrial application of new principles and technologies on pain science, and provide new products or solutions with great efficiency and safety, so as to better meet consumer expectations," said Hu, who is also head of China research and development for Haleon.
"Through the deepened cooperation between Peking University Health Science Center and Haleon, we hope to comprehensively explore the impact of pain on the physical and mental health of different groups of people and related triggering mechanisms, in order to provide a strong scientific basis for the active and effective pain management of patients," said Zhang Lei, general manager of Haleon China OTC (over-the-counter drugs).
More than 70 percent of the Chinese population suffer from reduced quality of life, including low-quality sleep, limited mobility and unenergetic work due to pain, even as chronic pain diagnosis and treatments are far from satisfying, according to Zhang.
"The purpose of establishing the pain science joint laboratory is to explore the cutting-edge areas of research on pain science, accelerate the transformation of scientific research results, promote science popularization and public health education, and empower the health of Chinese consumers," said Hu.
"We will leverage Haleon's strengths in consumer insights and innovation and research capabilities and Peking University's deep accumulation of scientific research and academic resources to fulfill the target," Hu added.
Specifically, Haleon will be mainly responsible for proposing research directions and unsolved scientific problems based on market and consumer needs, and Peking University Health Science Center will focus more on organizing and coordinating the relevant scientific research resources. Their mutual goal is to research and develop first-class advanced solutions for Chinese people's pain management, according to Hu.
Unlike previous collaborations with universities, the joint lab features in-depth interaction, broad areas of cooperation as well as a forward-looking focus.
"We think that Haleon will receive more innovative inspirations by cooperating with these top Chinese institutions and experts promoting Haleon's development on R&D," he said.
China's health industry is projected to reach 9 trillion yuan ($1.23 trillion) in 2024, up from 8 trillion yuan in 2021, according to a report on the health industry by the China Consumers Association.
China's health industry expanded rapidly to have a market scale of 7.7 trillion yuan in 2023, with healthcare and elder care becoming important contributors, according to a report on China's health industry market potential by Chyxx.com, a Beijing-based industry research and consulting website.
Accounting for more than 40 percent of the general health industry, healthcare and eldercare are gradually developing in intelligent, specialized, and integrated ways. In the future, the share of the health and eldercare sectors in the broader health market is expected to expand further due to policy support and technological progress, said the report.
京公网安备 11010202009201号